March 03, 2016
Weil advised Echo Investment S.A. in connection with the indirect sale of 75% (plus one share) of the issued share capital of Echo Prime Properties B.V. to Redefine Properties Limited, a company organized and existing under the laws of South Africa, a worldwide real estate investment trust (REIT). The value of the transaction is estimated to be at €1.2 billion, reportedly the largest-ever single transaction of income generating real estate assets in Central Eastern Europe.
Mergers & Acquisitions partner Pawel Zdort and Filip Uzieblo, who leads the real estate practice, together with the assistance of associates Jakub Kutzmann and Piotr Fedorowicz, led the transaction in Warsaw. The transactions team also included Antitrust partner Iwona Her; Private Equity partner Samantha McGonigle; and Corporate counsel Ewa Bober; Antitrust associates Irmina Trybalska and Leszek Cyganiewicz; and Corporate associates Tomasz Bakowski, Wojciech Czyzewski, Karolina Janus, Tomasz Rodzoch and Maciej Wroblewski.
Pawel Zdort commented, “Weil is proud to have advised Echo Investment S.A. in a transaction which confirms, once again, that Weil handles the largest and the most complex M&A transactions on the Polish market and in the real estate sector. This particular transaction, which is to be financed via debt and equity at a proposed 60% gearing at the property level, is reportedly the largest ever single transaction involving income-generating real estate assets in the CEE region and the largest ever real estate investment transaction in Poland. In addition to the significant scale of this transaction, we derived enormous satisfaction from working on this complex matter given our long-standing co-operation with Griffin Real Estate.”